European Union is considering 12 more years of state aid for coal
The European Union is considering 12 more years of state aid for coal, a draft European Commission document showed, even as the Group of 20 prepared to discuss phasing out fossil fuel subsidies. The current EU subsidy regime expires this year, and European Competition Commissioner Joaquin Almunia has said he intends to put forth a [...]
Rio Tinto, BHP Billiton and allies strike pact with new Australian PM
What’s in store for Australian mining with the fall of the House of Rudd? A precarious peace pact has been struck between the Australian mining lobbies and the Federal Government following the sudden departure of Kevin Rudd as Australian Labor Party Leader and thus the Prime Ministership. The argument over proposed higher tax rates on [...]
US claims to have identified vast mineral riches in Afghanistan
But a cloud of suspicion falls over its announcement A “perfect storm” of mining-related conflict could be brewing in Afghanistan, if a recent report in the New York Times is to be credited. The newspaper stated that the US had “discovered” nearly a trillion dollars worth of minerals in the conflict-stricken country. Almost immediately, critics [...]
World Bank clings to fossil fuels, stumbles on clean energy
Despite recent attempts to restyle itself as a green institution, the World Bank’s energy lending suggests that it remains wedded to fossil fuels. Meanwhile, independent evaluators and civil society groups have raised serious concerns about the developmental benefits of the Bank’s approach to energy efficiency and renewables. The UK Government is one of the leading [...]
Barrick Gold Among Companies Removed from Global Sustainability Index
Barrick is a Canadian company but London-based AXA Investment Managers UK Ltd had over $10 million invested in the company in 2007, BlackRock Commodities Income Trust plc has invested in the company, and the company also has connections with Millhouse Capital, controlled by London resident Roman Abramovich, and New City Investment Managers Ltd/NCIM (UK). (See [...]
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